Why it matters: Cannabis sales in Connecticut, both for adult-use and medical purposes, have reached record levels, surpassing $25 million in September. The steady increase in sales since the launch of the market in January highlights the growing popularity and demand for cannabis in the state.
What they are saying: The Department of Consumer Protection (DCP) announced that adult-use sales exceeded $14.3 million in September, while medical marijuana sales reached almost $11 million during the same period. Flower products accounted for the majority of sales, followed by vapes and edibles. The average price of products for both adult-use and medical marijuana buyers was around $38.
The big picture: The data collected through the state’s Seed-to-Sale Tracking System shows the movement of cannabis products throughout the supply chain, from cultivation to sale. The legalization of adult-use cannabis in Connecticut has led to a significant increase in sales and revenue, benefiting both the state and cannabis businesses.
What to watch: It will be important to monitor the impact of home cultivation on adult-use sales in Connecticut. The state recently allowed adults to grow up to six cannabis plants, which could potentially affect demand for store-bought products. Additionally, continued tracking of sales data will provide insights into trends and preferences among cannabis consumers in the state.
My take: The strong sales numbers in Connecticut demonstrate the success of the state’s cannabis market since its launch earlier this year. The steady increase in revenue is a positive sign for the industry, and it shows that there is strong demand for both recreational and medical cannabis products. As the market continues to grow, it will be interesting to see how factors like home cultivation and product preferences shape the industry in the future.
